Actas de congresos
Alternatives For Deepwater Field Developments: A Real Option Approach
Registro en:
Proceedings Of The Annual Offshore Technology Conference. , v. , n. , p. 1843 - 1847, 2002.
1603663
2-s2.0-1642562870
Autor
Dezen F.
Morooka C.
Institución
Resumen
Option-pricing theory has moved from the financial markets mainstream to the decision making process for upstream projects in the petroleum industry, taking shape as Real Option Valuation (ROV) techniques. It is proposed herein to employ option-pricing theory for selecting the best alternative among different execution plans (or competitive technology) for an offshore oilfield development.
1843 1847 Copeland, T., Antikarov, V., (2000) Real Options - A Practitioner's Guide, p. 372. , Texere (Ed.) Newendorp, P.D., (1975) Decision Analysis for Petroleum Exploration, p. 668. , Planning Press Paddock, J., Siegel, D., Smith, J., Option valuation of claims on physical assets: The case of offshore petroleum leases (1988) Quarterly Journal of Economics, 103 (3), pp. 479-508 Siegel, D.R., Smith, J.L., Paddock, J.L., Valuing Offshore Oil Properties with Option Pricing Models (1987) Midland Corporate Finance Journal, pp. 22-30. , Spring Brennan, M.J., Schwartz, E.S., Evaluating Natural Resource Investments (1985) Journal of Business, 58, pp. 135-157 Brennan, M., Schwartz, E., A New Approach to Evaluating Natural Resource Investments (1985) Midland Journal of Corporate Finance, 3, pp. 78-88 Leslie, K.J., Michaels, M.P., The Real Power of Real Options (1997) The McKinsey Quarterly, (3) Dias, M.A.G., The Timing of Investment in E&P: Uncertainty, Irreversibility, Learning, and Strategic Consideration (1997) SPE Hydrocarbon Economics and Evaluation Symposium, pp. 135-148. , Dallas 16-18 March, Proceedings Beliossi, G., Option pricing of an oil company- the model and an empirical valuation Working Paper Dipartimento di Discipline Economico Aziendali Dezen, F., Morooka, C., Adding Real Options Value to Decision Analysis (2000) Rio Oil & Gas Conference, , Conference held in Rio de Janeiro, Brazil, October. Paper IBP 19700 Dezen, F., Morooka, C., Field Development Decision Making under Uncertainty: A Real Option Valuation Approach (2001) Spe Latin American and Caribbean Petroleum Engineering Conference, , held in Buenos Aires, Argentina, 25-28 March, paper SPE 69595 Black, F., Scholes, M., The Pricing of Options and Corporate Liabilities (1973) Journal of Political Economy, 81, pp. 637-654 Merton, R.C., Theory of Rational Option Pricing (1973) Bell Journal of Economics and Management Science, (4), pp. 141-183. , Spring Trigeorgis, L., (1996) Real Options - Managerial Flexibility and Strategy in Resource Allocation, p. 427. , MIT Press, Cambridge, MA